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You want to buy a house but do not want to get a loan. The average price of your dream house is $500,000 and its price is growing at 5 percent per year. How much should you invest in a project at the end of each year for the next 5 years in order to accumulate enough money to buy this dream house with cash at the end of the fifth year? Assume the project pays 12 percent rate of return.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91621580

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